United supporters have opposed the club’s ownership to varying degrees since the Glazer family completed a leveraged takeover in 2005, placing approximately £600m of debt on an organisation that had previously owed nothing.
According to the latest accounts covering the period to 31 March, United’s total liabilities stood at £1.3bn, including unpaid transfer instalments.
The club has since refinanced bonds worth $425m (£314m) at a higher interest rate than before. It also borrowed another $125m (£92.4m), although the purpose of that additional funding has not yet been disclosed.
A clearer picture of the club’s finances is expected on 23 September, when its annual accounts for the year ending 30 June 2026 are due to be released.
Ratcliffe’s arrival was expected to improve matters, but many supporters believe the situation has instead deteriorated.
Tensions increased after United began investigating suspected ticket reselling during the summer.
Club officials acknowledged that they had underestimated how many supporters shared account details. They subsequently softened warnings that season tickets could be withdrawn if fans did not reply, while continuing to defend the investigation itself.
Figures released last week showed that 685 supporter accounts had been blocked, while another 464 had received penalties or warnings.
United also said 468 cases were closed after supporters supplied the requested details. No penalties followed because the information was considered sufficient to explain the activity under review.
Many regular attendees viewed the inquiry as an attack on loyal supporters and chose the match against City to demonstrate both inside and outside Old Trafford.
Responding to a call from the 1958 Group, large crowds carrying flares assembled outside the stadium before marching through the Munich tunnel beneath the ground.
Inside the stadium, members of The Red Army left their customary banners at home and displayed only one above the players’ tunnel, accusing the club of treating supporters disgracefully.
As a result, every other banner visible inside the ground had been installed by the club.
In a statement, The Red Army warned that the remaining supporter culture could disappear permanently unless long-standing match-going fans receive meaningful representation and are genuinely heard.
The group explained that it exists primarily to improve the stadium atmosphere rather than organise protests, but said it would always speak out when silence could harm the interests of supporters who regularly attend matches.
A significant number of chants were aimed directly at Ratcliffe as well as the Glazer family.
Steve Compton of the 1958 Group said supporters still wanted the Glazers to leave and that their position had not changed.
He added that Ratcliffe’s involvement had initially offered some hope, but argued that the promise to restore Manchester’s identity within United had not been fulfilled.
Compton also criticised the club for issuing numerous statements without apologising, saying the group had received hundreds of direct messages from people whose wellbeing had been affected.
He said ordinary working-class supporters had received emails informing them that their tickets were suspended without being shown clear evidence, leaving them uncertain about the allegations they were expected to challenge.
That claim from the 1958 Group, which has also been raised by other supporter organisations, conflicts with United’s statement that fans were told what they had been accused of. The club chose not to respond to the demonstrations.
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